In the long run all producers are forced to use the most efficient methods or give place to others who do.
Frank KnightThe probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an extremely tender-hearted person would get the job of whipping-master in a slave plantation.
Frank Knight...even professors of economics, to say nothing of the public, do not generally have scientific minds.
Frank KnightIf all properly economic problems were solved once for all . . . the social struggle and strife would . . . [not necessarily] be reduced in amount or intensity . . . in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.
Frank Knight